"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Buyers and sellers often negotiate to decide how to split these closing costs.
Many of the closing costs associated with buying a house are associated with getting the mortgage. Since Bob Rutledge Mortgage has extensive experience with closings & mortgages, we are closing cost experts.
Very shortly after you submit your application, we will give you a "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on Bob Rutledge Mortgage's experience with mortgage loans, but costs often vary by small amounts between the LE and closing. We review Loan Estimates with buyers every day, so we are happy to answer the you have about closing costs.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Bob Rutledge Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Points — lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account Various TaxesLoan Origination Fee Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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